MSE Forum Poll: How often do you review your Direct Debits and standing orders?

MSE_JC

Out-of-date subscriptions, free trials that you forgot to cancel, unused gym memberships…these sorts of payments can be silently taking chunks out of your bank balance if you're not careful.

Staying on top of them is a good way to keep your finances in check (and protect yourself from scams), but remembering to find the time isn't always easy for everyone.

How frequently do you take a look at these regular outgoings?

horsewithnoname

my only DDs and SOs are to pay bills like council tax and utilities, and my credit cards, so those need to happen

Rob5342

I have a spreadsheet with all my regular outgoings on it that I look at every month. Whenever any utility comes to the end of contract I'll always look for the best deal, and with things like Netflix etc I'll always check if we are still using it enough.

If you get into the habit of checking it regularly then it takes very little time really.

Swipe

I run a low balance in my current account so I tend to check my upcoming bank outgoings daily in case I need to move money over from my interest earning accounts.

Jemma01

Annually; I keep an eye on my outgoings, so I'm often aware. I try to pay in one go to avoid monthly payments, so often annual reviews work to stop auto renewals

Eco_Miser

I ticked weekly, because I know exactly how much should be in the accounts, and get weekly balance notifications. In practice standing orders are only for moving money between my accounts, and direct debits only for paying utilities and credit card. There's one automated payment on my credit card, for my phone service. Again, I know how much has been spent on the credit card before I get the statement.

twopenny

I don't because they are only council tax and utilities so can't be avoided. I get detailed statements from each to keep track . I let them do the work.